San Diego County pension fund searching for new investment chief

Concerns rise over fund’s complicated investment strategy

A large California pension fund is searching for a new chief investment officer amid concerns about a complicated investment strategy that uses derivatives to boost performance.

The board of San Diego County Employees Retirement System authorised the move Friday in an 8-1 vote that requires the $10 billion fund to install an internal investment chief instead of relying on an outside firm for that role.

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